PlayIconNav
BTC
$91,435.63+3.90%
ETH
$3,085.56-0.92%
SOL
$217.97+1.94%
BNB
$615.38-3.02%
DOGE
$0.37238986-3.58%
XRP
$0.90133951+8.20%
CD20
$2,743.42+3.74%
ADA
$0.66891259+15.81%
TRX
$0.18867482+5.77%
SHIB
$0.00002503+0.83%
AVAX
$32.88+2.86%
WBTC
$90,921.43+3.54%
Ad
Markets
Election 2024

Stablecoin SafeDollar Hit by Cyberattack

The stablecoin's value drops to zero.

By Jamie Crawley
AccessTimeIconJun 28, 2021 at 8:37 a.m. UTC
Updated Aug 21, 2021 at 6:57 p.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
shutterstock_172084607-2

SafeDollar, a decentralized finance (DeFi) stablecoin that is based on the Polygon blockchain, has been hit by an cyberattack, according a statement on its Telegram channel.

  • All activities on SafeDollar have been paused and investigations are underway, it said.
  • "IMPORTANT: PLEASE STOP ALL TRADING RELATED TO $SDO," it added.
  • The value of SafeDollar has dropped to $0, according to the protocol's website.
  • The cyberattack used tether and USD coin, beincrypto.com reported, citing a tweet by DeFi analytics site Rugdoc.io Monday.
  • The contract address shows SafeDollar, USDC and USDT were siphoned off.
VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.